Author: Press Room
StoneCo names Mateus Scherer Schwening CFO
Peter Thiel (left) and Richard Li.Getty Images/Bloomberg MoneyHero Group, a personal finance comparison company based in the Asian financial hubs of Hong Kong and Singapore, is planning to go public in the U.S. by merging with a blank-check company backed by Hong Kong billionaire Richard Li and PayPal cofounder Peter Thiel. The deal with Nasdaq-listed Bridgetown Holdings values MoneyHero at about $200 million, including debt, the fintech firm said in a statement on Thursday. The combined company will have an enterprise value of as much as $342 million. The transaction will provide the company proceeds of up to $154 million.…
getty A recent survey has announced something you already know. The Employee Benefit Research Institute conducted an online survey in late January and early February. It found that retirement confidence among workers has dropped to 64%. This is the lowest level since 2008 when America was on the cusp of its credit-crunch recession. The 2023 ICI Fact Book shows U.S. retirement assets dropped nearly 15% between 2022 and 2021. These figures include defined benefit plans. According to the ICI, these plans “do not have sufficient assets to cover promised benefits that households have a legal right to expect.” Is it…
PwC suspended nine partners and pledged to publish the findings of an internal review later this year as it works to contain a tax leak scandal engulfing its Australian operations.The company has been under intense public scrutiny after the release of emails showing it had used confidential information about changes to tax laws from the government to win new business.The move to suspend nine partners — including members of its executive and governance board — is the latest escalation of a scandal that erupted in February. PwC said it would ringfence the work it does with the federal government in…
2/2 © Reuters. FILE PHOTO: A U.S. one dollar banknote is seen next to Turkish lira banknotes in this illustration taken in Istanbul, Turkey November 23, 2021. REUTERS/Murad Sezer/Illustration 2/2 LONDON (Reuters) -Turkey’s lira wobbled near record lows against the dollar as President Tayyip Erdogan secured victory in the country’s presidential election on Sunday, extending his increasingly authoritarian rule into a third decade. The currency was at 20.05 to the dollar during Asian hours, just shy of the 20.06 record low hit on Friday. The lira, prone to sharp swings before regular trading hours, has weakened more than 6% since…
© Reuters. FILE PHOTO: A passerby walks past an electric monitor displaying recent movements of various stock prices outside a bank in Tokyo, Japan, March 22, 2023. REUTERS/Issei Kato By Stella Qiu SYDNEY (Reuters) – Asian shares and Wall Street futures rose on Monday as a weekend deal by U.S. President Joe Biden and House Speaker Kevin McCarthy to suspend the government’s debt ceiling provided relief for investors although China worries capped sentiment. Europe is set to open slightly higher, with pan-regional up 0.2%. rose 0.3% while Nasdaq futures firmed 0.5%. After weeks of negotiations, congressional Republican McCarthy and Biden…
Source: Kannapat/AdobeThere has been a spike in South Korean crypto scams that target young women on social media platforms, a new study has revealed.Per iNews24 and Hanguk Kyungjae, the study revealed that 71% of “romance scam victims” ensnared via social media in 2022 were women.The vast majority of these women were “aged 39 or below.”Almost 63% of these “romance scams” made use of crypto, fake coins, fake foreign exchange transfers, or bogus token trading platforms.The data was compiled by a postgraduate student at the elite Korea University and used data from recent police reports.Most scammers appear to make use of…
Rep. Matt Rosendale, a Republican from Montana, released a statement Sunday evening signaling he would vote against the “Fiscal Responsibility Act,” the debt ceiling deal released to the public earlier in the day by House Speaker Kevin McCarthy, R-Calif. Rosendale said the proposal, which he called the “Fiscal Irresponsibility Act,” failed to rein in federal spending. He also said lawmakers who support the bill are insulting the American people.”The D.C. Swamp has proposed the largest debt ceiling increase in our nation’s history, adding $4 trillion to the existing $31 trillion national debt,” said Rosendale. “The Fiscal Irresponsibility Act fails to cut…
Monday's economic calendar
Elon Musk has approved more government requests for censorship on Twitter than his predecessor. A “free speech absolutist,” Musk previously said he’d only censor Russian news “at gunpoint.” Now facing criticism over Twitter’s track record, he says there’s no “actual choice” but to comply. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app After less than a year running the social media site, Elon Musk, who once said he’d only comply with governmental requests to censor content on his platforms “at gunpoint,” now says Twitter…